Peter Ireland on the Fed’s Pandemic Performance and the Path Forward for Monetary Policy
Macro Musings with David Beckworth
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The New Cansian Model
Mingalean blanchard coined the term divine coincidence with specific reference to the new cansian model. The notion that the central bank is trading off employment versus inflation seems to be back in the thinking of the f o m c. I thought it was a vestige of old style cansion thinking that we had left behind, and now elements of it are reappearing. But i am also worried by the fact that there is an almost single minded obsession with inflation.
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